“Global cocaine rapid test kit market is expected to register a significant CAGR of over 8% from 2020 to 2027”
The global cocaine rapid test kit market size was accounted for USD 317 million in 2020 and projected to grow at a significant CAGR of 8.1% during the forecast period 2021 to 2027 and expected to reach around USD 550 million by 2027. The increasing incidence of substance abuse among the young population across the world is a key factor to drive the market growth.
The global cocaine rapid test kit market is segmented into type, end-user, and geography. On the basis of type, the market is further classified into the urine, saliva, and other types of test kits. The urine segment held the largest market share in 2020 and projected to grow at the growth rate over the forecast period. The segment growth is attributed to the increasing use of urine test kit due to reliable and time-efficient testing features.
The report titled “Cocaine Rapid Test Kit Market – Global Trends, Market Share, Industry Size, Growth, Opportunities, and Forecast – 2020 – 2027” offers a holistic view of the Cocaine Rapid Test Kit industry encompassing numerous stakeholders including raw material suppliers, providers, distributors, consumers and government agencies, among others. Furthermore, the report includes detailed quantitative and qualitative analysis of the global Cocaine Rapid Test Kit market considering market history, product development, regional dynamics, competitive landscape, and key success factors (KSFs) in the industry.
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The report includes a deep-dive analysis of key countries including the U.S., Canada, the U.K., Germany, France, China, Japan, India, Australia, Mexico, Brazil and South Africa, among others. Thereby, the report identifies unique growth opportunities across the world based on trends occurring in various developed and developing economies.
North America is currently spearheading the geography segment for the cocaine rapid test kits market. Significant increase in the number of adolescents doing cocaine abuse primarily drives the cocaine rapid test kit market in the region. As per the latest research ciitngs provided by the Center for Disease Control and Prevention (CDC), approximately 0.6% of the population in the United States were reported to be abusing cocaine. Existence of key players such as Alfa Scientific Designs., VivaChek Laboratories, Inc., Teco Diagnostics etc., further propels the market growth in the region.
Cocaine Rapid Test Kit Market report summarizes the positive growth rate in upcoming years, and market size with competitive analysis. Our experts have analyzed the historical data to compare with the current market scenario to calculate the market growth in the coming years. The study provides an exhaustive report that includes an executive summary, scope, and forecast of the market.
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Medical device manufacturers engaged in the production of cocaine rapid test kit are Bio Group Medical System., Alfa Scientific Designs., AccuBioTech., Cortez Diagnostics, Inc.., BIOSYNEX, Easy Healthcare, Oranoxis, Inc., VivaChek Laboratories, Inc., Teco Diagnostics., and Firstep Bioresearch, Inc.
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